Dines says buy Medbox, predicts a short-term pot boom

2014-03-26 15:58 ET - In the News

James Dines, writing in a Feb. 28, 2014, issue of The Dines Letter, says buy Medbox Inc. at $27.61 (U.S.). This is the first time he has recommended the stock, which he includes in his list of pot picks. He does not discuss Medbox in this issue; he just includes the buy on the newsletter's back page. Elsewhere, Mr. Dines says he does not know how long it will take to discern how his new group of pot stocks will turn out, but he does not expect it to take too long. He says investors should sell whenever they feel good about it. Beginners approaching the stock market, he comments, tend to buy a stock because it is attractive for one reason or another, much like buying a specific car or lottery ticket. In fact, stocks tend to move in groups, which led the editor to promulgate Dinesism No. 10, the Dines Wolfpack Theory. It says that when a few stocks of an economically related group move in a certain direction, the rest of that group will tend to follow in that direction as confirmation. It seems to him, he says, that at least a short-term boom is ahead for pot stocks.